Decoding Moments of Experience with the Power of AI
December 6, 2023
TWENTIFY — Data/Research platform for consumer behavior, products, communications, brands, and markets
twentify.com
10 minutes. This is the average time a person spends without checking their smartphone in the US. We are living in a 24×7 connected world, with consumers making experience-oriented shopping decisions, not specifically product-oriented ones. This shift in behavior significantly impacts the success parameters for brands, forcing them to be agile and consumer-oriented in order to stay relevant. Real-time insights are imperative!
Consumer research company Twentify allows brands to collect growth-focused insights by reaching close to 2 million consumers around the world. Using Twentify’s mobile consumer panel, brands can learn their target audience’s behavior and thoughts, and receive feedback on their products, marketing, and brand initiatives.
By attaching technology with scientifically proven research models, Twentify brings sophistication and simplicity together to enable brands to conduct consumer-focused research studies, gather insights, and make successful business decisions.
Founded in 2014, Twentify disrupts traditionally slow and clumsy insight generation methods. Every day, Twentify helps hundreds of brands to better understand a community of more than 2,000,000 consumers, allowing them to make well-informed business decisions. Twentify is operating in eight countries with offices in Canada, India, and Turkey.
An interview with Twentify CEO Ilker Inanc
As we begin, could you share more about Twentify’s inception and its journey since 2014?
Twentify was conceptualized to address the inefficiencies plaguing traditional market research methods. We were steadfast in our belief that technology could revolutionize this domain. Our journey has been about remaining true to that vision, using innovative digital tools to gather real-time, multidimensional data, thus empowering businesses to make informed decisions rapidly and confidently.
Twentify seems to have an intricate relationship with technology. How does this synergy enhance the value you offer to your clients?
For us, technology is both a tool and an ethos. It infuses every aspect of our operations, ensuring we gather data that’s not only current but also contextually relevant. Our Bounty app is a testament to this, enabling real-time insights that form the bedrock of sound business strategies. This approach has cultivated a realm of trust with our clients, who know they’re accessing the freshest, most reliable market insights.
Innovation seems to be a central theme at Twentify. Could you elaborate on how emerging technologies like AI have reshaped your service offerings?
Our recently unveiled platform, Quals.ai, is a perfect illustration of our innovative spirit. By integrating AI, we’ve transcended the limitations of traditional research methods, enabling real-time, insightful dialogues with target audiences. This technology captures the human element, bringing a depth of understanding that was previously unreachable. It’s not just about staying current; it’s about pioneering pathways that redefine the industry.
Can you provide an overview of Quals.ai and its function in qualitative research?
Absolutely! Quals.ai represents a paradigm shift in qualitative research. Imagine leveraging AI to conduct real-time, genuine dialogues with participants across the globe. Traditional methods have always been hampered by logistical constraints and the slow pace of gathering insights. Quals.ai dismantles these barriers. By enabling instantaneous analysis, we provide brands with the agility to make informed decisions faster than ever. It’s not just about the speed but the depth and authenticity of the connections formed, offering insights that are both profound and immediate.
How does Quals.ai manage to facilitate interactions that participants perceive as human-like?
This feature is one of the cornerstones of Quals.ai. The AI is sophisticated enough to facilitate conversations so fluid and natural that participants feel they’re interacting with a human. This level of genuineness is achieved through advanced natural language processing that understands and responds to human nuances. The impact is monumental; we’re seeing participants open up more, offering uninhibited insights that are pure gold for brands seeking to understand their audience’s core sentiments and motivations.
In terms of immediate data analysis provided by Quals.ai, what implications does this have for the decision-making process?
The ‘Instantaneous Analysis’ feature revolutionizes the decision-making timeline. Research teams will no longer have to wait for extended periods to collate and sift through data. Quals.ai offers immediate access to detailed transcripts, essential excerpts, and succinct summaries, all ready for review. This means teams can swiftly move from gathering insights to implementing action based on real, in-depth feedback, significantly accelerating project timelines and responsiveness to market dynamics.
On your website, you mention Quals.ai helps companies achieve carbon-zero. Could you elaborate on how Quals.ai adheres to eco-conscious business practices?
We’re proud to say that Quals.ai is at the forefront of eco-conscious operations. By eliminating the need for physical office spaces and cutting down on the extensive travel traditionally associated with market research, we significantly reduce our carbon footprint. Quals.ai enables global perspectives without the environmental cost, aligning with the growing necessity for businesses to adopt sustainable practices.
How do you envision Quals.ai influencing the broader field of market research in the future?
Quals.ai is more than a tool; it’s a transformative force in the market research arena. By offering round-the-clock research capabilities and unparalleled access to global perspectives, we foresee a future where geographical boundaries and time constraints are obsolete. Brands will engage with audiences from Tokyo to Buenos Aires seamlessly, gleaning diverse consumer insights at a pace previously unthinkable. More than revolutionizing qualitative research, Quals.ai is set to redefine it, setting a new standard that others will aspire to reach.
Beyond current innovations like Quals.ai, how does Twentify anticipate incorporating AI and machine learning in its future endeavors?
We envision AI as a collaborator in our journey. Our future is aimed at deeper AI integration, enhancing predictive analysis capabilities to forecast market trends, and continually refining our processes through machine learning. This isn’t just about progress; it’s about setting new industry benchmarks.
It’s fascinating how Twentify has revolutionized traditional research methods. Can you share an example where your innovative approach significantly impacted a client?
One standout instance was with a retail client aiming to overhaul their in-store experience. Traditional methods would have been far too slow. Instead, using Bounty, we swiftly gathered comprehensive insights on various facets of the shopping experience. This rapid, holistic understanding enabled the client to implement immediate enhancements, directly contributing to a noticeable upswing in their customer satisfaction and sales figures.
Let’s talk about Twentify’s global footprint. Twentify recently launched in India. How did Twentify manage to penetrate the complex market in India?
India is a large, complex, and tough market. Success here hinges significantly on collaborations with trustworthy local entities who bring to the table not just market insights but also established rapport within the business ecosystem. We found those indispensable partners in the WCS India team. Our alliance with them isn’t recent; it has been tested and strengthened over time, laying a solid foundation of mutual trust and shared goals. Recently, we’ve taken our partnership to new heights, amalgamating our efforts more integrally to offer Twentify’s innovative solutions within the Indian market. This collaborative approach allows us to navigate the market complexities effectively, ensuring our services are not just available but also resonate well with the local business requirements.
India is known for its vibrant market and cultural diversity. How has Twentify navigated these complexities to conduct effective research in the country?
India, with its rich cultural tapestry, represents both a challenge and an opportunity. Our strength lies in our local team, who bring invaluable cultural insights, ensuring our research strategies are nuanced and resonate with local sensibilities. This blend of global strategy and local wisdom has been pivotal in strengthening our operations, not just in India but in all markets we serve.
Given the multicultural nuances of markets like India, how does Twentify balance global standardization with local customization in its methodologies?
Our strategy hinges on a ‘glocal’ approach. We maintain global consistency in technology and quality standards, but execution is deeply influenced by local insights. Our local teams are instrumental here, guiding the customization of methodologies. This ensures our data is not just globally relevant but also culturally respectful and accurate.
How does Twentify ensure the Bounty app remains a reliable and engaging platform for authentic data collection?
We’ve embedded engagement and authenticity within Bounty’s design, utilizing gamification to transform data submission from a chore into an intriguing challenge. Furthermore, our algorithms work tirelessly behind the scenes, validating the data’s authenticity and flagging any inconsistencies, thus maintaining the high-quality insights our clients depend on.
With rising concerns around data privacy, how does Twentify maintain ethical boundaries while adhering to global regulations?
At Twentify, data privacy isn’t just an obligation; it’s a creed. We adhere to international standards, employing stringent measures to anonymize and protect personal information. Our platforms are fortified against breaches, and we are transparent with our participants about their data rights, fostering an environment of trust and responsibility.
Looking ahead, what innovative frontiers is Twentify targeting next?
At Twentify, innovation is relentless, and our vision extends beyond the current market landscape. We’re venturing into the realm of immersive technologies, considering how augmented reality (AR) and virtual reality (VR) can transform traditional market research methodologies by allowing participants to engage with simulated environments and provide instantaneous, in-depth feedback. Alongside, our exploration continues into advanced AI applications, aiming to refine our analytical processes, personalize interactions, and predict market trends with greater accuracy. This isn’t just about leveraging new technologies; it’s about creating a future where our solutions set new industry standards and drive revolutionary change in market research.